Hailey Wilson loves to cook and receives unqualified praise whenever she prepares a meal for someone.Encouraged by these compliments and eager to put her culinary talents to good use,Hailey decides to open a small neighborhood restaurant.Since she plans to maintain complete control of the business,she will most likely organize it as a
A) limited partnership.
B) corporation.
C) general partnership.
D) cooperative.
E) sole proprietorship.

Question

Quizplus · Accepted Answer

Hailey wants to maintain complete control of the business and a sole proprietorship is the simplest and most straightforward business structure that allows an individual to own and operate a business by themselves. It would also be the most appropriate choice for a small neighborhood restaurant, where Hailey is unlikely to have significant investment or require the legal protections of a corporation or partnership.

Hailey Wilson Loves to Cook and Receives Unqualified Praise Whenever